Lagos State Warns Over Poisonous Plantain Chips

The Lagos State Consumer Protection Agency (LASCOPA) has warned residents over the consumption of fried plantains popularly known as “plantain chips”, regarding the unhealthy practices and frying of the plantain chips.

Dangote Refinery Commences Diesel, Aviation Fuel Production

The largest single-train refinery in the world located in Nigeria’s commercial hub commenced production of diesel and aviation fuel in the early hours of Friday. This followed the delivery of six million barrels of crude supply to the refinery this week. However, the refinery has yet to produce Petroleum Motor Spirit, otherwise known as petrol. The Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, had late on Friday confirmed the commencement of operations to our correspondent. In a statement in the early hours of Saturday, the Dangote Group clarified that it has “commenced production of diesel and aviation fuel.”

Naira Falls To N1,330/$ At Parallel Market

The Naira on Tuesday, January 16, declined to N1,330/$ at the parallel market. If fell by 3.91 percent or N50 from the N1,280/$ rate recorded on Monday. This comes despite a 460.52 percent forex turnover rise to $147.81 million at the end of Tuesday's trading. The depreciation at the official forex market comes after the Nigerian government received a $2.25 billion foreign exchange boost loan from the African Import-Export Bank over a week ago.

NSIPA: President Tinubu Suspends All Social Investment Programmes

President Bola Ahmed Tinubu has ordered for the immediate suspension of all social investment programmes under the supervision of the National Social Investment Programmes Agency (NSIPA) for an initial period of 6 weeks. This was disclosed in a statement issued on Friday by Segun Imohiosen, Director of Information of the Office of the Secretary to the Government of the Federation (OSGF).

Ajaokuta Steel Mill To Begin Production Of Military Hardware

The Minister of Steel Development, Shuaibu Audu revealed that the Federal Government plans to begin production of military hardware at Ajaokuta Steel Mill located in Kogi State. He made this known on Monday during an interview on the Channels Television programme, Politics Today.

NCS To Reopen E-Auction Portal Next Week

The Nigeria Customs Service (NCS) has disclosed its plan to reopen it’s e-auction portal next week, which was first launched by the immediate past Comptroller-General of the NCS, Col. Hameed Ali (Rtd) in July 2017.

NNPC Seeks Private Entities to Run Port Harcourt Refinery

In a move aimed at boosting efficiency and productivity, the Nigerian National Petroleum Company Limited (NNPCL) is seeking to transfer the operations of the Port Harcourt Refinery to private entities. The Minister of State for Petroleum Resources, Heineken Lokpobiri, announced the mechanical completion of the refinery last month. The national oil company is actively searching for reputable and credible Operations & Maintenance (O&M) companies to operate and maintain the Port Harcourt Refining Company (PHRC) to ensure reliability and sustainability to meet the nation’s fuel supply and energy security obligations.

Brent Crude Rises To $79pB

Oil prices became bullish after the United States and Britain carried out strikes against Houthi military targets in Yemen in retaliation for attacks by the Iran-backed group on shipping in the Red Sea starting late last year. However, regardless of the success recorded by the UK and US-aligned forces, experts believe that this act will raise the prospect of escalating conflict in the Middle East. Brent futures rose by 2. 3%, $79 per barrel on Friday, January 12, 2024, while US West Texas Intermediate (WTI) crude futures rose by $1.80, or 2.5 percent higher, at $73.82, before settling at $72.02.

Shettima Departs For Davos

Vice-President Senator Kashim Shettima has departed Abuja for Davos, to attend the 2024 World Economic Forum scheduled from January 15 to 19 2024. Senior Special Assistant to the Vice President on Media and Communications, Stanley Nkwocha, disclosed in a statement that the trip was at the instance of President Bola Ahmed Tinubu. Shettima who has represented Nigeria in Italy, Russia, South Africa, Cuba, China, and the US will join other political and business leaders across the world at the week-long annual Forum to discuss global socio-economic and development issues.

Food Insecurity To Hit Nigeria In 2024 - World Bank

The World Bank during its annual Global Economic Prospect report, projected that Nigeria and other Sub-Saharan African countries may be hit by food insecurity in 2024. The bank made this projection due to the current political instability, insecurity, and violence affecting the region and the Middle East which has disrupted global trade.